I have one on my 4runner and a Warn 8274 on my landcruiser. Different uses, but both have been reliable and great tools to have. The HF is much cheaper, much slower, and probably doesn't pull nearly as hard as the Warn, but for the price I can't complain. So far it has worked very well. I've used it quite a few times, but mostly for short pulls on my stock 4runner, and I use it to lift and lower a snowplow. Works great for that.
The biggest downsides I've seen so far for the HF winch is being slow compared to the warn, and it has a relatively small spool for cable compared to the big spool on the 8274. Also the HF winch uses a cheap low quality cable. I've broken mine once already, roughly 18" from the original hook loop. I just cut off the bad part and put a new end on it. The break was the result of using for snow plow lifting, so one spot on the cable is repeatedly flexed. I suspect a good quality cable would have lasted a long time in the same application.